Refer to Table 22-1. Based on the table above, which country has a higher standard of living and why?
A) Ireland has a higher standard of living because growth in GDP is greater in Ireland than in Sweden.
B) Sweden has a higher standard of living because their GDP is higher.
C) Ireland has a higher standard of living because their GDP per capita is higher.
D) Sweden has a higher standard of living because their GDP per capita is higher.
C
Economics
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Based on labor-market studies using regression analysis, once productivity-related characteristics are accounted for, the remaining wage gap between young and educated women and men is approximately
A) 2%. B) 5%. C) 15%. D) 20%.
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Who gains from exports? How do they gain? Who loses? How do they lose? Does the overall economy gain or lose from exports?
What will be an ideal response?
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